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California 13, Romney 12, Us 11, Obama 10, Washington 10, Apple 10, Nicole 9, Pakistan 8, United States 8, Lifelock 7, S&p 6, America 6, U.s. 6, Libya 5, Clayton Morris 5, Google 4, Napolitano 4, Clinton 4, Liz 4, Ben Franklin 3,
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  FOX Business    Varney Company    News/Business.  
   Wall Street news. New.  

    September 21, 2012
    9:20 - 11:00am EDT  

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♪ ♪ imus in the morning >> i'm elizabeth mcdonald, stuart is back on monday. apple's marketing machine alive and well, and leaning up overnight for the iphone 5, went on sale just over an hour ago here on the east coast, but
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there's one thing wrong that some say steve jobs would be furious, clayton morris, in a few minutes. and president obama says you cannot change washington from the inside and mitt romney fired back and the president stands by the assertion that the attack on the u.s. consulate in libya was a spontaneous protest inspired by a youtube video even though his own press secretary called it a terrorist attack. what are you paying for gas? a big drop in prices this week. "varney & company" is about to begin. [ male announcer ] what if you had thermal night-vision goggles,
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>> all right. welcome back, apple's iphone 5 goes on sale in the u.s. today. apple stores around the country opening just a short time ago. and you know that every time there's a big apple phone, apple fans are lining up outside, for the chance to be the first one on the block with a new iphone
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and clayton morris is one of those individuals. >> and right there, right by the line, and take turns holding the tarps down and sleeping in the car at night. >> all right. foxx and friends anchor clayton morris is one of the people. the resident tech guru. and what do you think of it, do you love it? >> i love it. i've been a fan of ios and fit and finish of the polish of the iphone. 20% lighter than the iphone. it's refined. people are saying it's not revolutionary, not a revolutionary product, but it's a big upgrade from the previous version, the larger screen. phone apps and so four inches versus the three and a half inch screen, but everything you want. you want a faster phone, lighter in your hand and take better pictures in low light situations out with your friend at dinner. and all of those things make it a better phone.
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>> are you buying the elegance and coolness of it and everyone else is-- >> and i've touched so many, so many of them the rumia from nokia, but the bevel around the sides, nobody else is doing that. >> clayton, you'll be back. one application on the iphone that critics are blasting. so much so that some say that steve jobs would be enraged and clayton will talk about what's wrong with the map app after the bell. stay with us. after apple gets the positive buzz, today there's more bad news for research in motion. the company had a major blackberry service outage earlier this morning in europe, and the middle east and africa. and now, rim says service has been restored since then. to the presidential race, mitt romney making a big push in ohio and is appealing to coal country. and to win the crucial swing state. that's next.
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. >> policies of the current administration, and attacking my livelihood. >> and closing the mine down-- want to try to crack it? yeah, that's the way to do it!
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>> we're about 20 seconds away from the opening bell and you know what, with dot-com on the market now, the dow, the futures are trading just up not too much. about 70 points and the s&p up slightly and oil 93 dollars and gold at 1786 after jobs came in higher and a slowdown there, so we've got the opening bell coming and clayton morris talking about apple and we're going to be talking about range of motion than what's going on in the middle east and the big board up around 13, 601. let's go over to nicole. nicole, mcdonald's is raising the quarterly dividend to 77 cents a share, where is mcdonald's trading right now, nicole? >> mcdonald's right now up about 1/2 a percent though they raised the dividend 10% and 7 cents and now, it will be 77 cents a share. the interesting part about this,
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liz, is that looking at this, the raise of the dividend, the dividend payout. turns out that mcdonald's raised its dividend every year, every single year, since paying the first dividend way back in 1976. now, that's-- >> so you're talking about a 36 year track record, right, nicole? >> unbelievable from 1976 till now, and raising the dividend? pretty good. >> now, where is apple? apple is the big story and where is that, nicole. >> 702 and change, so it's up about 1/2 a percent, it's not channelling the all-time high yet. and 43 times this year, but i went by the store there on fifth avenue and east 58th, it was jam packed and it's expecting to sell record amounts today. >> you know, it's interesting, basically apple is really driving about 5% of the s&p, it's up, what, responsible for the 15% of the quarterly gains
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in the s&p, right, nicole. >> it is and helped the s&p along, but when you look at yooer to date on the major averages, they're higher, i can't give apple the entire credit. it helps the s&p and it helps the nasdaq and it's going to help gdp. >> thanks, really appreciate it, back to you in a little bit. clayton morris is still here with the iphone 5. apple getting a lot of criticism going with its own map's application and not google's. what do you make of this decision. >> and put it into context, if it were any other country. but when they upgraded, suddenly google maps is gone, vanished. we don't know the mystery-- >> and seeing the new software. >> yeah, the new software that just came out. we don't know the details yet. trying to get to the bottom of it. who ended the contract, google or apple? seems like it was probably apple that ended that relationship to
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do their own they think, their own proprietary map app. >> and for the viewers, the new apple iphone is quote, pretty, but dumb, and experience is worse, basically the wrong directions on the apple map, and public transportation information is pretty much not there. so, that's a criticism. what do you make of that. >> still in my testing of the turn by turn direction, it's been great. driving around town, you know, an siri's voice turn right. prepare to turn right. other folks are experiencing problems when they're trying to find the location of their house, for instance, finding their house is in the middle of the field in the maps data or a building that was closed six years ago is somehow opened again and doesn't exist there, there's a farm in its place now. so, people are finding at that they're driving down wrong, wrong streets that aren't even on the maps application. and the apple released a statement yesterday saying look, it's rare for apple to do this. this is new for us, we put this out there we want user and data
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feedback and when google launched maps, it relied on human beings, that street doesn't exist anymore. >> and driving all over kingdom comes, sometimes, is this an embarrassment for apple with a decision to go with its own app? is it? >> their own app, but-- >> the maps app. >> in the few months of beta testing for developers, people were noticing how horridly it's constructed. it's a beautiful application, but the data is not there yet. it's an embarrassment that they rolled it out so soon and it's not fully baked. >> appreciate your insight. next up, president obama still has the lead in ohio the latest fox news poll has the president ahead by 7 points, but coal miners are coming out for mitt romney and in turn, romney is trying to rally them with ads like this. >> in the coal industry.
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>> the current administration got is attacking my livelihood. >> and wanted to close these mines down. >> we have 250 years of coal. why wouldn't we use it? >> the utility bills are up. people wonder how they're going to have a brighter future if they can't see how they can make it to the end of the next month. >> joining us is ohio secretary of state, ken blackwell, now, secretary blackwell, governor romney making a big push in coal country, do you think it will work? >> yes, i do, because what the governor understands is that what we need is accelerated economic growth and that growth will be sustained by low consist energy and ohio is a reservoir of low cost energy, whether it's coal or the shale oil, and the reality is that families want to
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get back to work and self-sufficiency and low cost energy is the way to do it, and that's, that's what we have here in ohio. if it will be the work and exploited. look, i married into a coal mining family. my wife's father was a coal meaner and back in the early '80s, i was part of a group that owned two, three coal mines, so, i know, i know the business, i know what's there under the ground. and the future of economic growth in ohio will turn on how we use the natural resources there. >> but, secretary, here is the issue. ohio has, sips 1964 correctly picked the winning president, and so, we see news that ohio the median income there is at a 27 year low, however, kell, is basically being left in the coal, but also coal, a new report out from the
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congressional research service, react to this just one of 165 did you electric utility plans are being fired by coal. natural gas is displacing that. how do you reconcile all that? >> well, the way i reconcile it is by saying, you have to understand where wealth is being created in ohio. it can be in coal mines, it's in fracking and natural gas and no reason we can't in ohio sustain check growth. the reality is we have a president that's anti-coal, anti-natural gases, we have a president that wants to keep families dependent on government and we have families in ohio who want to be self-sufficient. >> all right. ohio secretary of state tim blackwell. thank you for your time, sir, really appreciate it. >> good to be with you. >> thank you. next up, new at 10, president
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obama faces his toughers incident yet on spanish language tv and the president flipped satisfying you cannot change washington d.c. from the inside. we bring you mitt romney's quick response at the top of the hour. don't go away. and back to nicole, google, a new high. why is google trading at a new high, nicole? >> and fitzgerald made a call and it's been moving up. and it was above the 700 mark and this all the way down, it's been crawling back, closer and closer to the all time high, but these are the highest levels it's been at since 2007. >> thank you, nicole. be back in a little bit. time is money, and here is what we're watching for you today. president obama was supposed to ride into washington d.c. and clean up the political mess and even he admits that did not happen. and can it ever. we'll ask steve forbes. and the tea party is a voting
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block, will it get mitt romney in the election. and a crisp new environmental regulations, we'll be talking to the leader of the state's republican party. we want to hear from you, send your e-mails right now to varney@foxbusiness.com and we're going to read them live on the air as they come in. and now next up, seven early movers, designer michael kors raised the profit guidance. up 3 points. western asset mortgage capital more than doubled its quarterly dividends and those are shares up up nearly 2 points at 23 bucks. and software maker, took in less than expected and trading is up to almost $31 and amgen says the fda approved a new use for the bone building drug, and that stock is down. nearly 82 bucks and profit up 12% at uniform rental company cintas.
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and that is trading 41.29. and now, mcdonald's is not the only company raising dividend. health care company providian is, too, and it's trading prakzally, covidien. and oracle stock up, revenue slipped. oracle shares though are up by about a poent. and now they've got week three in the nfl kickoff and the players want a regular referees back, but the scabs are still on the field. why? it's all about pensions. that's next. [ male announcer ] how do you trade?
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>> welcome back. let's check the big barried. the dow is trading up, at 13,623 and we're going to check the price of oil. up about a buck. 93 bucks. and gas prices down slightly overnight. the average for 3.83. diesel down, to 4.11. and the new york giants clobbering the carolina panthers last night. 36-7. eli manning, and threw for 288 yards and one touchdown. and, but the real story was runningback andre brown. he's been released by five different teams for the past four years, but finally found a home with the giants. scored two touchdowns and ran for 113 yards and that game and the rest of the week three of the nfl season on sunday. and playing with replacement
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referees, and the league is locking out the regular officials and the refs are asking for more money and currently earn between 80 grand and 160,000 bucks a year, depending on experience for five or six months work out of the year, but the sticking point is retirement benefits. the refs want pensions. the league wants 401(k)'s. joining us now, sports rob morgan. what do you make of that being the sticking point first? >> the pension issue, i think on the league side is reasonable to have part-time employees that are in 0401(k). especially, what you have with referees, that you don't have year-round employees. i think on the referees, side it's reasonable to say, look, we're participating in this system. the pension system and relied on that system for a lot of years
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and made long-term investment decisions based on that system that was in place and we like that system to continue. so, you've just got, just got kind of the two opposable views that tell us there's not an easy reconciliation. >> so you're basically thinking that the refs, the refs are being unfair asking for pensions, right? >> well, you know, it doesn't-- it doesn't seem reasonable to have pensions for employees that work, you know, only work from 16 to 20 weeks a year. >> do you think this is going to hurt the credibility of the nfl, having replacement refs in there that possibly could be slowing down the game? this is a, basically a market that's 9 billion bucks, brings in residents every year and do you think it's going to hurt the nfl? >> you know, i don't think from a long-term perspective it's necessarily going to hurt. the league is so strong right now that the demand just marches on. the league is-- the revenues are so high.
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9 billion dollars in revenue, i don't think from a long-term perspective it's going to hurt. in a short-term perspective, absolutely. there's pandemonium on the field right now. there's not a sense that the referees have control of the game. and it's sort of like a classroom where you have the substitute teacher and spitballs are flying everywhere. the fans can see it. there's a lot of missed calls. you know, there's-- games are taking forever and the refs are huddling more than the players. there's clearly a problem from a near-term perspective. from a long-term perspective it's pretty clear the nfl believes it can let it-- >> you don't want the viewers using the remote and switching away. thank you, appreciate it. >> no problem. >> next up, we've got your morning gold report. now, gold has been trending up. it's now trading up about 14 bucks at $1,784. president obama still maintains
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that the attacks in the middle east were all about an anti-islam movie on youtube even after reports in libya that say they were planned. now, the president is running an apology ad in pakistan and that's next. don't go away. >> we reject all efforts to denigrate the religious beliefs of others. >> let me state very clearly, and i hope it is obvious, that the united states government has absolutely nothing to do with this video.
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>> welcome back. the state department sending $70,000 of your tax money to air this ad in pakistan. >> we reject all efforts to denigrate the religious beliefs of others. >> let me state very clearly, and i hope it is obvious, that the united states government had absolutely nothing to do with this video. >> those ads are going to reach about 90 million people in pakistan, running on seven pakistani tv networks. the administration said the attack in libya had nothing to do with the movie. it was planned by months-- for months by al qaeda.
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charles payne and sandra smith are here, what's your take on this? >> it's outrageous. i'm surprised we didn't see a guy who looked like ben franklin in a powdered wig and a bulldozer, running over the constitution. please, pakistan, please. >> how can we allow christians in america to be boycotted by millions of cities because an executive has an opinion on one thing and then begs them to forgive-- moving on the incident no one saw. this is ridiculous. >> sandra. >> it's a youtube cartoon and i would say the big debate cut foreign aid to pakistan, u.s. companies though have already pulled from pakistan and the best way to cut foreign an aid. >> and the united states and president obama and hillary clinton, are getting the message of this movie out there. i think they have attacked more than anybody. that's the first time i've seen what they're running over in pakistan and it sounds like an apology to me. why are we apologizing? if anything, we should have put
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something out that said that the killing of a u.s. ambassador will not be tolerated. >> exactly. >> right. >> and apology-- >> the administration is still-- >> and as free speech, and the deaths of our americans and the-- >> the administration isn't quite clear, i think the president is still blaming the movie and other people in the administration are blaming al qaeda. >> what did you think of the press secretary find it self-evident. and saying self-evident yesterday that it was a terrorist attack. it wasn't self-evident monday tuesday and wednesday. >> the stock market, the news is bad when the company reports earnings. when the cfo does the conference call instead of the ceo and i thought susan wright was cloned. on every show and not hillary clinton, and you knew slg was wrong, you know what? the administration has gone down a line they're not sure of. if they're wrong, they have to throw someone under the bus. >> i tell you something, the message to those countries is
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this, the u.s. companies will not do business with you, foreign aid will get cut if you want to rely on government spending to direct your lives, that's not the way to go. the hard part for us, keeping oil above 100 bucks. and next at ten, we talk about mitt romney needing to he think cha the conversation. well, president barack obama may have done it for him. two issues in one town hall. steve forbes is with us and he will respond to the president's comments. . >> i've learned some lessons over the last four years and the most important lesson i've learned is that, you can't change washington from the inside. you can only change it from the outside. [ owner ] i need to expand to meet the needs of my growing business. but how am i going to fund it? and i have to find a way to manage my cash flow better. [ female announcer ] our wells fargo bankers are here to listen, offer guidance and provide you with options tailored to your business. we've loaned more money to small businesses than any other bank for ten years running.
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>> with one statement president obama changes the conversation from it romney. governor romney quick to respond no change from the inside message. that is not that -- not all that was set in the town hall meeting. these are the sound bites. let's check the big board. we are up 37 points to 13,034 here and we have the company
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with us today. sandra smith, charles payne and nicole petallides from the floor of the stock exchange. thousands of people lining up all over the country for the new iphone 5. investors will be cashing in. >> if you have to bet your money on it today would be the day. it is 34 was -- an all-time high. you see the line out there. robert gray over their checking and out. the line is what around the block. is weaker and the sexier better. [talking over each other] >> and i have the oldest blackberry effort. >> an outage this morning?
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>> no. i am telling you i am the one. [talking over each other] >> longer on the side. it is like a brick. >> that is in the highlight reel. next president obama promised hope and change saying he will reform washington. four years later he realizeds it is not that easy. here is what the president said at town hall yesterday. >> i heard some lessons over the important lesson i learned is you can't change washington from the inside but only from the outside. that is how i got elected and how the big e accomplishments like health care got done. >> it did not take mitt romney along to come back with a come back. >> can change washington from inside but only from outside. we are going to give him that
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chance in november. he is going outside. sandra: isn't a problem now that voters think the government is too big and the president is admitting he is asking for four more years but does not have the ability to change washington bridge that is what the campaign was for four years ago. liz: he is also saying he basically got health care through getting the american population excited from the outside and also middle-class tax cuts he got through from agitation from the outside. >> he has control of the house and senate and filibuster prove. the first two years he should have gotten everything -- he did get everything he wanted. the word agitation is the right word. seems to me the president has been fanning the flames, the war against access and after the populace has risen and burned down every household making
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$250,000 a year come to d.c. and let's burn this place down to. liz: will this take up the president? >> romney is running with it. we saw one sound bite from mitt romney but he reiterated and shot back at obama's comments. charles: no one believes government works these days and population of the government is low. mitt romney has to say i will make it work. i have made a lot -- >> let's bring in steve forbes on the topic. you ran for president. is it possible to change washington from the outside? >> i want to hit what charles that in terms of health care done against popular opinion. outsiders making that decision, obamacare never would have passed. you change washington by mobilizing public opinion the way ronald reagan did in the 1980s and got public support for his tax cuts and rebuilding the
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military and deregulation got a mandate and got big things done even though the democrats controlled one of the house of congress but obama is sounding more like a third world kind of guy. come in and we will have mobs and overturned institutions and that kind of thing. he was wrong on two points. public opinion was against this and the sound bite he wants to do more hitting one group against another. liz: plenty of american presidents, on the inside, going to kennedy. george h. w. bush, president reagan, what do you make of the point that the president was asking for four years while admitting he can't change? >> what you're going to see him do now is he made a mistake wrapping himself and ronald reagan who said the way he would change of opinion in washington
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is public opinion. with the president was talking about is different. if he gets a second term, there will be more executive orders, and that epa and government by decree, not by democracy. and to mobilize public opinion and get a mandate. what is the mandate for november. liz: when the president gets reelected and we have gridlock in washington d.c. end run around congress and working through the growing bureaucracy in washington d.c.. how bad you think it could get? >> he will do everything he wants to do and say, take me to court and you have seen him despite their denials undermining of the 1996 welfare act. they will do a lot of that
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stuff. take me to court. courts take years. it is pretty ominous and who knows what the justice department will do against people they don't like. they targeted big givers on the romney campaign and republicans for special treatment. and the american people will wake up to it. and what ronald reagan did. liz: the next topic. the president is blaming of movie or cartoon. listen to this. >> what we have seen over the last week and have, something we have seen in the past where there is an offensive video or cartoon directed at the prophet mohammad and this is obviously something used as an excuse by some to carry out in excusable violent acts directed at
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westerners or americans. liz: clarifying something we said earlier the administration said what happened and libya was a terrorist attack has not said the attack had nothing to do with the movie buthat is your reaction to this sound bite? >> a couple things. in libya, they advance warnings something would happen. and a spontaneous mop and coming along they get the news shaken their fists and everything. and the demonstration, grenade launcher and things like that. it was planned and they drew blood from great diplomats. may try to cover up saying this isn't our fault. some cartoon's fault. it is bad stuff. liz: bad for free speech.
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thank you so much. the president was asked how a college student can find a job in the u.s. economy. >> the good news is over the last few months we have seen jobs every single month, 4 jobs. liz: people believed it? a romney economic adviser and the ceo of c k e restaurants. what do you make of that? >> president obama didn't create four million jobs. if there were four million jobs created it was by the private sector. we have a million fewer jobs than when he took office and the unemployment rate would be 5.4% if we spent the $800 trillion in stimulus, and we spend the money and unemployment for 30 months has been over 8%. we have twenty million people unemployed and one of every six people in the united states, you
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can possibly bring good news out of that. and there is no silver lining. he has pursued government policies, government and more government. the job bill is more government employees and government infrastructure projects. different from governor romney's five point plan that reduces the size of government. he gets credit for trying but there's no silver cloud. his economic policies have been a disaster. charles: this is charles payne. speaking of credit for trying romney is not getting credit for the twelve million number he is throwing out. everyone, republicans and democrats, show us the road map. the clock is ticking. >> that is one of the things that is disconcerting.
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i worked with the governor on the 59 point plan he put out and we clarified that with respect to what he would do for education and energy and on taxes and all anybody senate is it is a policy walk and too much into detail. and the convention with a five point plan. domestic energy, domestic education, cutting the deficit. and a general approach to what he is going to do but the mainstream media comes out and says there's not enough detail. mitt romney is good on detail in the debate. i will be glad to be on it and go through. liz: the message is not getting out there. the word is the reason mitt
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romney can't close a sale is they respond to attacks and responds like a ceo instead of down and dirty politician. i was talking to neil cavuto about that. what do you make of that? >> as the ceo myself maybe i shouldn't be too critical. just want to throw stones living in a glass house. there has been a very positive development with respect to the campaign. we clarified what we are talking about. we have a candidate who number one is supportive of america as a free enterprise society and liberty and economic freedom and that is mitt romney. on the other side of that equation we have a candidate who wants greater government centralization and greater government dependency. that is barack obama. as we go forward and the campaign coalesces around those philosophies america -- i hope your listeners out there who are considered voting for barack obama understand he is a nice guy and shouldn't feel bad about
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voting for him last time but he is taking america down a wrong course in the wrong direction and we need to change. we need to go back to what works. liz: c e o of c k e restaurants and basically romney economic adviser. thank you. appreciate it. now we head back to nicole on the floor of the big board. cantor fitzgerald saying to buy out two tech stocks. google. nicole: what happened, google hit a multi-year high in 2007 levels. it is up almost 1/2%. liz: what about facebook? nicole: cantor fitzgerald put a buy rating on facebook and that name is 2290 a moment ago up 1.5%. what is interesting in the month of september is facebook is up 27%. for the quarter. down 27%. it is not even --
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liz: it continues. going to come back in a little bit. a hot controversy. this has been an ongoing one. a christian own hobby shops to the obama administration over its new health-care law. the company faces of boycott. it comes down to religious freedom. here comes the judge. he is next.
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liz: stock end with a small gain. the dow jones industrials trending around 39 points up 13,068 and markets haven't gone this week and out of europe. reports of a bailout for spain on the markets, concerns that greece, not make the budget cuts he needs. 1,786, and oil right now, good for oil drillers like halliburton, up nicely today. and down 4 sense. a gallon for the national average.
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liz: backlash against a christian hobby store. wahabi lobby suing the obama administration required by the new health-care law to cover contraception for its workers and even abortion. groups are boycotting of those 4. the judge is here. what do you make of this? judge napolitano: i don't blame the hobby lobby people for filing a lawsuit. the suits will be consolidated. there are 45 brought by what
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catholic organizations. university of notre dame and archdiocese of new york and institutions like that with large numbers of employees that they have to insure the never provided the services and don't want to provide the services for value and in the case of the catholic church catholic law reasons. accord will struggle with the following. does a sincerely held religious view exempt one from obeying the law of the land? last time they looked at that was a crazy case involving a native american religion that used a hallucinogenic drug as a sacrament and vote court said you can't consume this hallucinogenic drug which is illegal for everyone to consume by claiming it is a sacrament. however this case is different because here you have the government interfering with an otherwise smoothly running system where the catholic church
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employees people and doesn't provide abortion or contraception. liz: they don't pick them roman catholic groups but the other side of the argument saying you are denying critical health coverage to your workers. judge napolitano: they can obtain it elsewhere. not that they're being denied it. they pay for themselves which will be available to them or get it elsewhere. not everybody that is catholic agrees with what the church teaches. statistics show more catholics disagree on contraception and agree. you can't assume all catholic employees feel the same way be monica good point. they can get them but they have to pay for them. where will these exemptions the president is offering six weeks before election day end? the lobby of the group are not catholics. they oppose abortion.
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liz: we see the white house and the administration giving exemptions for all sorts of things. we know about the waivers giving unions and business before the reform bill passed and we see a lot of other exemptions coming in as well on the mandate tax. this vitiates the administration's support for the law. judge napolitano: it is that and worse. it eve vitiates the constitutional separation of powers. the congress writes the laws. the president enforces the laws and the courts interpret the laws. the president has to enforce a law whether he likes it or not. giving him the authority to exempt people from the law is like letting every right it and the constitution doesn't authorize that. liz: a lot of political atmosphere especially now. the eco chambers rolling around. judge napolitano: is varney walking pots and pans? liz: good to see you.
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mitt romney says 47% of americans depend on entitlements. a new report says millions more on food stamps because they do not have to work. >> announcer: meet tom, a proud dad whose online friends all "like" the photos he's posting. oscar likes tom's photos, but he
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>> people trying to find a location of their house in the middle of appeal on the maps or a building that was close six years ago, it doesn't even exist. there is a farm in its place. liz: the apparent mishap of the new iphone, this is apple's miss have. people end of buying the iphone. catch more of "varney and company" every morning by tuning in at 9:20 eastern time. nine:20 eastern time. let's look at the big board. $42 higher, 638. and 1,087. we checked the price of oil. see what oil is doing. stays flat at $93.45. we get the gas prices soon, down
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slightly as we head to the weekend and the national average for a gallon of regular down $3.83. diesel dropping to $4.80. metro pc s leading the s&p. >> and a 52 week high, and we were talking a lot about phones, and it is 7%. >> one of the guys in my house does. [talking over each other] charles: looks great. [talking over each other] >> i don't disagree. i was surprised to see a move like this. it was impacted.
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liz: next up talk about entitlement nation. from 2008-2010 food stamps increased by two million people. and republican commentator tom freeze from georgia. why work at the government? you don't have to. >> that is the point we were making this week. it clearly displays when you wave the work requirement, in the stimulus package, larger welfare programs. food stamps double during that time and there has been a 41% increase, and when i was growing up, and mom taught me there are no free rides. you got to work for and turn it. president obama disagrees with my mother but my mom was right. [talking over each other] >> we could get her on the
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phone. liz: let's lay it out for the viewer. people who are 18 or up to age 49 these are able-bodied individuals who are now on food stamps but we have other media saying wait a second. any criticism of this is all wrong. we have at 20 hours a week work week. they got to put in 20 hours to get those benefits but what do you have to do to get the 20 hour compliance thing in? >> you got to be preparing for work and working and it is about able-bodied americans receiving a benefit from the government and there for transitional periods and never admits to be something you live off of and families and community churches should be embracing those -- liz: basically what we are seeing the administration weaken welfare to work requirements that president clinton put in place and those caseloa when
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president clinton put that in basically dropped to 5.9 million from thirteen million. what we are talking about is to satisfy the work requirement you could be doing things like researching child care or getting jobs ready training. what do you make of it? >> president obama is part of the legacy. forty-three million americans are out of work or looking for work and forty seven million americans on food stamps right now. that is the legacy he is leaving and that is not a right path. there's another path. another future of opportunity and prosperity and in the current law that is in place that bill clinton signed into law with bipartisan support was working. decrease poverty and got folks back to work but about for a little transition time and president obama just circumvented congress. his party in the 90s. liz: the administration will say
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we are in a record economic downturn and we haven't seen since the great depression and some of those numbers may be the result of that. what the make of that criticism? >> they want to expand government. they are creating more dependency on government that that is not the american way. americans want to work. they want a paycheck. not an unemployment check. the american way is about hard work. americans did not want something for nothing. the fact that democrats had doing this before the election is a political play but the voter will have a final say in the next 46 days. liz: they're leaving it up to the state to decide. how do you change that? the administration says you get to beside the welfare to work requirement. you take that back out? >> current law is still in place. what the president has done is he won't pay attention to the law. that is the action he has taken today and ignoring the law and his role within the
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constitution. if it was signed into law by president clinton in the 90s and obama should be abiding by the law. liz: thank you for your time. really appreciate it. the tea party is not sold on mitt romney but what other alternatives do they have? gary johnson is the independent candidate. romney or four more years of obama? what will it take to get them to back romney? we will ask the tea party leader next. sometimes investing opportunities are hard to spot. you have to dig a little. fidelity's etf market tracker shows you the big picture on how different asset classes are performing, and it lets you go in for a closer look at areas within a class or sector that may be bucking a larger trend. i'm stephen hett of fidelity investments. the etf market tracker is one more innovative reason serious investors are choosing fidelity. get 200 free trades today and explore your next investing idea.
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>> all right. nothing that regular americans than gas prices. they were trending up. the regular price down 4 cents. down slight lie overnight as the national average falls to 3.83 and diesel down also to $4.11. joining the company, larry silver with sg alternatives. larry, you know what? does the trend in gas prices continue? what do you think? >> no, i think gas prices are going to stay pretty much where we are right now. this is a softening scenario, we're just going to have a better balanced environment. let's keep in mind. six months ago we were in severe oversupply in the oil market and last several months,
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severe undersupply. i think there are going to be a floor to prices due to ethanol. 5.50 a bushel in april and. liz: larry shall what's the floor to the gas prices? where do you see it the end of the year. >> put it this way, i think we're going to see west texas intermediate at about $93. translates to 4.50 a gallon in chicago terms. i think you'll see brent up around 110. liz: and still ouch levels. and next the latest gallup poll has mitt romney in a dead heat with president barack obama, tied at 47%. we'll focus on the tea party and we know that they don't love everything that mitt romney stands for, but most would probably consider him a better choice than president obama. will the tea party vote for romney in big enough numbers on election day? joining us now, justin phillips, associate director of
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the tea party.net? where do you weigh in on this. >> i'm one of those people considering myself an omg voter, obama must go. you have two choices four more years of obama or like somebody sent me an internet card today, reelecting obama is like backing the "titanic" up and hitting the iceberg a second time. but that's the choice. it's either obama or romney. liz: so is the tea party going to come out for romney in droves? >> that's a gooed question. the tea party for the most part is going to come out for romney. but, romney has got a huge problem with the tea party. >> why? >> most of the tea party voters are omg voters, obama must go, they're not romney voters. there's a huge difference. liz: why? why are they not. >> omg voters probably going to vote for romney because we realize obama's got to go. a romney voter is someone who is not only going to go out and vote for romney, put out the
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yard sign and bumper sticker-- >> hang on, why isn't the tea party coming out for romney? what don't they like about mitt romney? >> not so much, from what i've talked to with people and myself included, it's not so much what we like or don't like, he is he's just better than obama. the romney campaign has done nothing to reach out to the tea party. i was talking to one of the senior people at the romney campaign a month ago, when are you going to quit ignoring the tea party and reach out to us. never got an answer on that one and-- >> wait a second. really? they're just going to stay home because romney didn't make the phone call to the tea party? really, they're not going to vote for him for only that reason? >> no, no, understand the difference. they will vote for him, but a difference between people who go out and vote for him and people who for lack of a better term, evangelical for him. listen i'm excited about this guy, you've got to vote for him. that's what's missing. liz: go ahead. >> and missing evangelical and missing in passion. do you think the tea party
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itself made a mistake transitioning from a grass roots organization to an organization now that's in building and behind laptops and computers? i thought they were so much more effective when they were in the park, and they had their signs and feel like they made that transition, maybe a power grab too soon. >> well, a channing had to be made. because first of all, nothing in life is static. we're never going to remain exactly the same, day in and day out. when the tea party first hit all we could do is go out on the streets because there were no elections or anything else. the fundamental test whether the tea party is successful, whether there's any change. we swept the republicans and took them off the politically endangered species list. charles: after that you felt so good about yourself, you abandoned what you were doing. i think you made a mistake. >> we didn't abandon if, we got smarter, got involved in campaigns. look at the republican primaries, how many candidates
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espoused the tea party credo. liz: you have to answer this question for me, okay? the viewer wants to know what is the tea party, on what issues is the tea party angry with mitt romney about? >> starting with obama care. romney is doing this repeal and we're going to keep parts of it we like. well, the whole thing is unconstitutional, unworkable, it needs to be simply be scrapped and let's get free market ideas in there to bring down the cost of health care and make it afford anl for people and that's the starter. the next thing he comes out and says, well, i'm going to cut taxes, but not for the upper income people. we need to cut taxes for everybody, and some people say tea party stands for tea, taxed enough already. liz: all right, tea party leader, thank you, appreciate it. next up, california continues to chase bests out of the state. now, new, at thats will cost companies a billion dollars a year. so, will voters pick democrats to lead, why? we'll ask the leader of the california republican party. that's next, don't go away. [ male announcer ] you are a business pro.
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restaurants are up today. this is a company behind red lobster and the olive garden. the company made more money than expected in the latest quarter. and it said promotions helped bring customers back to the olive garden. and on the other hand. we had vivus, a promising drug to treat obesity. new signs the drug will not get approval from european regulators. we're coming back with 90 seconds with the head of the california republican party. and talk about that state about job killing and environmental laws.
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. liz: big stock story of the day. apple, can't avoid it. nicole what are we looking at. >> another new high. people waited for hours and days outside the apple stores today and today is finally the day that you can get the apple iphone 5. if you walked in the apple store. the pre-orders, liz as we've noted set all kinds of records. and at&t talking about the fact the expectations and the demand that they had been seeing so far were very, very impressive. and there you go. we've got everybody leaned up and a new high, a new high of 704.85. liz: wow, nicole, the best stimulus to 401(k) accounts across the country. >> yeah, good. liz: thank you, next up, carbon emission fees could cost 500 california businesses a billion dollars a year. joining the company, tom del
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decaro, the republican party chairman. which businesses are affected by the hikes? >> a lot relates to the oil companies there and they could do better and our energy policy would turn around if california would allow them to do their job. but it's mostly energy producers and manufacturers. california used to have 2.3 million manufacturing jobs and now 2.1 government jobs. liz: 2 pony 1 million government jobs, right? >> and only manufacturing-- e what time frame. >> 25 years. and now a 25 billion dollars, get this, unfunded pension liability because of that growth in government. so, you know, california is chasing away jobs and this bill-- >> you just diagnosed the problem. and what california businesses are on hit list? who pays that. >> well, at the end of the day,
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all taxes are paid for my consumers. liz: as you pass it along, right? >> absolutely. i live 15 miles from a refinery over-the-hill. i have the highest gas prices in the country. why? because california has so many regulations. we're the highest regulated state in the world, meaning, you know, not just the united states, not just, you know, some other nation, california is the highest regulations and no surprise, we have the second highest unemployment in the country, we have eight of the ten worst unemployment areas, we have eight of the ten wst foreclosure areas and our deficit problem is a revenue problem. liz: let's get back to the state cap and trade system in california. you know, the defenders in sacramento would say, look, this is the best way to curb pollution. our smog problem is terrible, still in places like los angeles and it's pretty much the best way to go because it's got a lot of integrity and it's the only-- the fairest way to go. would you say though, it's easily corrupted by state bureaucrats? >> first of all, their premise
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is wrong. i'm glad you bring that up. when it comes to regulation, you've got to have the proper balance. we've driven so many matching jobs out of the state. you know where they go? they wind up in china literally. you know where that's coming. >> they have pollution, and turns and the pollution migrates, so by driving the jobs out of california they're not getting their goals, i suppose overall less pollution worldwide and the key to some return is some balance. so this policy doesn't work. >> who pulls the lever on the cap and trade system. >> it's cars-- >> unelected, and put out more regulations, you know how under dodd-frank two-thirds of the regulations to go to write. liz: right. >> they constantly write up these regulations. we have a regulatory body that outlawed-- or decided the size of tv you could buy because they didn't want you to using too much
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electrici electricity. that kind of thing. we can't have 100 watt bulbs, we can only now have 95 watt bulbs. liz: fluorescent bulbs by the way. >> far more dangerous. and they should be regulating. we need an initiative to curb them back. liz: california republican party chairman, tom delvacarr 0: . liz: i'm worried about pronouncing the italian numbers, the producer is italian. and with jobs, the massachusetts senate race gets personal and we've got a lightning round. that's next. [ owner ] i need to expand
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>> time now for the lightning round. first topic, wind power, about 10,000 wind jobs have disappeared in the past few years. the entire industry employs only 75,000 people in the united states. sandra, what do you make of that? >> well, you can't push these industries to thrive and succeed. they'll work if they're ready to work. but guess what? natural gas prices are very, very cheap. electricity demand is down so it's not working, but if we try to artificially stimulate that market. it's a bad thing.
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it will work when it works, i don't think we're against it, but might not be its time. liz: premature. next up, the first debate in the massachusetts senate race. scott brown versus elizabeth warren and as you expect her native american heritage came up. charles, what do you make of that. charles: i'm still saying she's just as a pre-internet on-line dating form of a booty call, all i'm saying is that she, she's like-- listen. >> a what? >> didn't get involved in the indian club and those are big looking dudes. and realistically-- >> did you say the b-word. charles: no, booty call. >> you said it. >> political booty call. charles: no, back in college a legitimate booty call. no, so that she would continue to say that it was okay. she's a prototypical liberal and bleeds so much she wants to be part of it. liz: charles, that was pretty
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lively. last topic, gas prices falling this week because of a big drop in oil. sandra we're going this which trending down. >> oil prices fell 7% or $7 in three or four day-span. listen the market had been going up, up, and up and all of a sudden people take profits and go home. be careful, don't think gas prices will be seeing a precipitous fall. and-- >> you're the smartest in the room about that one. next we have the highlight reel. don't go away. hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! wow. it's the honey, it makes it taste so... well, would you look at the time...
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chances are, you're not made of money, what's the rush? so don't overpay for motorcycle insurance. geico, see how much you could save. >> here it is. the highlight reel, roll it. >> please, pakistan, please? how can we allow christians in america to be boycotted by mayors of cities because an executive has an opinion on one thing and then begs them to forgive us about a movie on the internet no one saw. >> we reject all efforts to denigrate the religious beliefs of others. >> it sounds like an apology to
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me. why are we apologizing. >> the united states government had absolutely nothing to do with this video. >> i'm surprised we didn't see a guy who looked like ben franklin in a powdered wig and bulldozer running over the constitution. >> all right, ben franklin. charles: by the way, i disagree with hillary clinton. the united states government had everything to do with that movie because we have a constitution and with the constitution people have the right to put those movies out. >> it was a state-sponsored movement, but it's about the first amendment. >> i haven't seen it, has anybody seen it. >> i'm not going to see it. and the overreaction and-- >> i think it was an excuse, it's a powder keg of animosity over there for america and any excuse, especially the president gives it the green light, is going to fly. >> the company, you've been lively this morning and appreciate your time. >> thank you. >> now, here are dagen and connell. connell: speaking of lively, liz, thank you very much. dagen: thank you, liz, i'm dagen mcdowell. connell: i'mon

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